Commodity market outlook
- By Advisorymandi |
- May 02, 2017
- Last Updated at 11:32 IST
Gold consolidates
Gold manages to capped the loses in the morning Asian trade. Gold futures settled sharply lower Monday, with the yellow metal booking its lowest finish in three weeks, following U.S. data that imply a strong rebound in second-quarter economic growth. Comex Gold is trading at $1258.28 up 2.80 points (0.22%) per ounce.
Oil Prices under $50
Continued rise in US production and a gain in oil products inventories kept crude oil under check after the commodity dropped under $50 per barrel. Global equities being supportive to commodity. MCX Crude oil futures also dropped well under Rs 3200 per barrel.
|
Commodity |
CMP |
S1 |
S2 |
R1 |
R2
|
|
Gold- June |
28,610 |
28480 |
28350 |
28760 |
28910 |
|
Silver –May |
38,775 |
38625 |
38475 |
38995 |
39135 |
|
Crude-May |
3133 |
3105 |
3060 |
3175 |
3215 |
|
Copper-Jun |
370.85 |
367 |
364 |
374 |
378 |
|
Nickel-May |
614.60 |
610.50 |
605 |
622 |
629 |
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- Yes
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